Thread: News Article: Balsillie back in the bidding
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08-07-2009, 09:06 AM
  #65
Northern Dancer
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Quote:
Originally Posted by LeafErikson View Post
I have to admitt ND, most of your arguments are strong, and I often don't have a good rebuttle. But this one's pretty weak. This is a pretty common practice in pro sports.

Obviously Hamilton sees the advantage of having an NHL team, and the cost of renovating the COPPS would be worth it. I think the city would see that money back, eventually through taxes, and spill over renue into local business'.
The premise that somehow because a city has a major league team with a spanking new stadium funded by taxpayers stimulates the economy is wrong. No new money or spending is being created, all the monies spent on building the facility then buying tickets would have spent anyway on other things. People don't keep money under their mattress just waiting to spend it watching major league sports. An example would be should I decide to go to watch the Leafs I would buy tickets however if I change my mind and decide not to watch the Leafs I would then spend that money on something else (movies, dinner etc). I would not take my money hide it under the mattress. The loss of the Montreal Expos, the loss of the Quebec Nordique, the loss of the Winnipeg Jets did not affect the economies of those cities one bit. The fans of those departed teams did not take their ticket money and throw it into an RRSP, they spent it on other things.

The reason it is commonplace (stadium subsidies from municpalities) is simply it is a very easy way to get voters onside and an easy way to get re-elected. Just look at everyone jumping on Balsillie's bandwagon and putting Mayor Eisenberger on a pedastal. The fact other juristictions do it does not make it right. I would have to think the fine taxpayers of Glendale Arizona are a tad peeved about their 180 million dollar investment in a rink right about now.

I have two questions for you, how many more people will Copps employ with an NHL team versus their current AHL team? And since the city the owns Copps, how do they get their money back through taxes since they will be paying taxes to themselves?

There is lots of studies that prove a professional sports teams is not an efficient use of government money: (in fact accomplishes nothing)

http://iurd.berkeley.edu/catalog/Wor...ic_Development

http://news.illinois.edu/NEWS/04/1117stadiums.html

http://economics.about.com/cs/baseba.../aa021403b.htm

http://www.brookings.edu/articles/19...axes_noll.aspx

http://dcfpi.org/?p=89


Last edited by Northern Dancer: 08-07-2009 at 09:39 AM.
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